Terrorist atttacks hit sports insurance

The increasing risk of terrorist activity at major sporting events could make it more difficult to obtain insurance, says Risk Management Solutions (RMS).

Last week’s attack on the Sri Lankan cricket team in Lahore, Pakistan, in which eight people were killed, highlighted the vulnerability of sporting events, said Dr Gordon Woo, a terrorism risk expert at RMS.

“A characteristic of terrorist behaviour is learning from elsewhere,” he said. “As concerns rise over copycat attacks on other major sporting events, insurance coverage for such events is liable to become increasingly expensive. And with London 2012 on the horizon, this may have implications for securing coverage.”